Rhumbline Advisers Sells 9,459 Shares of Uniti Group Inc. (NASDAQ:UNIT)

Rhumbline Advisers lowered its stake in shares of Uniti Group Inc. (NASDAQ:UNIT) by 1.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 790,345 shares of the real estate investment trust’s stock after selling 9,459 shares during the quarter. Rhumbline Advisers’ holdings in Uniti Group were worth $2,308,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in UNIT. Vanguard Group Inc. boosted its holdings in Uniti Group by 1.4% in the first quarter. Vanguard Group Inc. now owns 38,442,169 shares of the real estate investment trust’s stock worth $226,809,000 after acquiring an additional 542,485 shares in the last quarter. LSV Asset Management boosted its holdings in Uniti Group by 1.3% in the first quarter. LSV Asset Management now owns 7,276,879 shares of the real estate investment trust’s stock worth $42,934,000 after acquiring an additional 91,408 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Uniti Group by 4.2% in the second quarter. Bank of New York Mellon Corp now owns 1,869,032 shares of the real estate investment trust’s stock worth $5,458,000 after acquiring an additional 74,832 shares in the last quarter. Norges Bank acquired a new stake in Uniti Group in the fourth quarter worth about $9,139,000. Finally, Mizuho Markets Americas LLC boosted its holdings in Uniti Group by 21.2% in the first quarter. Mizuho Markets Americas LLC now owns 1,363,762 shares of the real estate investment trust’s stock worth $8,046,000 after acquiring an additional 239,000 shares in the last quarter. Institutional investors own 87.51% of the company’s stock.

Uniti Group Stock Up 1.9 %

Uniti Group stock opened at $5.33 on Friday. Uniti Group Inc. has a 52 week low of $2.57 and a 52 week high of $6.71. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of 88.83 and a beta of 1.28. The stock has a 50-day moving average price of $4.32 and a 200 day moving average price of $4.42.

Uniti Group (NASDAQ:UNIT) last announced its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.28). The company had revenue of $294.90 million for the quarter, compared to analysts’ expectations of $289.97 million. Uniti Group had a net margin of 0.79% and a negative return on equity of 0.37%. The firm’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.34 earnings per share. Research analysts anticipate that Uniti Group Inc. will post 1.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $5.50 target price on shares of Uniti Group in a report on Thursday, August 29th.

Insider Activity

In other news, SVP Ronald J. Mudry sold 28,693 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $3.94, for a total value of $113,050.42. Following the completion of the sale, the senior vice president now directly owns 513,761 shares in the company, valued at $2,024,218.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.39% of the company’s stock.

Uniti Group Company Profile

Uniti, an internally managed real estate investment trust, is engaged in the acquisition and construction of mission critical communications infrastructure, and is a leading provider of fiber and other wireless solutions for the communications industry. As of December 31, 2023, Uniti owns approximately 140,000 fiber route miles, 8.5 million fiber strand miles, and other communications real estate throughout the United States.